Zacks Investment Research upgraded shares of Neuronetics (NASDAQ:STIM) from a hold rating to a buy rating in a research report report published on Saturday. The firm currently has $29.00 price target on the stock.

According to Zacks, “Neuronetics, Inc. is a commercial-stage medical device company. It focused on designing, developing, and marketing products for patients who suffer from psychiatric disorders. NeuroStar Advanced Therapy System(R), is the transcranial magnetic stimulation treatment for depressive disorder. Neuronetics, Inc. is based in Malvern, United States. “

STIM has been the topic of a number of other reports. William Blair initiated coverage on shares of Neuronetics in a report on Monday, July 23rd. They issued an outperform rating on the stock. Piper Jaffray Companies initiated coverage on shares of Neuronetics in a report on Monday, July 23rd. They issued an overweight rating on the stock. BTIG Research restated a buy rating and issued a $33.00 price target on shares of Neuronetics in a report on Wednesday, November 7th. JMP Securities initiated coverage on shares of Neuronetics in a report on Monday, July 23rd. They issued a $26.02 rating and a $36.00 price target on the stock. Finally, Canaccord Genuity raised their price target on shares of Neuronetics from $33.00 to $36.00 and gave the company a buy rating in a report on Wednesday, August 15th. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of $34.50.

Shares of Neuronetics stock opened at $21.66 on Friday. The company has a current ratio of 7.63, a quick ratio of 7.46 and a debt-to-equity ratio of 0.33. Neuronetics has a 1 year low of $20.70 and a 1 year high of $39.39.

Neuronetics (NASDAQ:STIM) last released its quarterly earnings results on Tuesday, November 6th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.11. The firm had revenue of $13.74 million during the quarter, compared to the consensus estimate of $12.68 million. Research analysts expect that Neuronetics will post -1.88 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Neuronetics in the 2nd quarter valued at about $1,570,000. Granahan Investment Management Inc. MA acquired a new stake in Neuronetics in the 2nd quarter worth approximately $266,000. Wells Fargo & Company MN acquired a new stake in Neuronetics in the 2nd quarter worth approximately $7,734,000. Schroder Investment Management Group acquired a new stake in Neuronetics in the 2nd quarter worth approximately $4,374,000. Finally, Peregrine Capital Management LLC acquired a new stake in Neuronetics in the 2nd quarter worth approximately $4,659,000. Institutional investors and hedge funds own 60.78% of the company’s stock.

Neuronetics Company Profile

Neuronetics, Inc, a commercial stage medical technology company, designs, develops, and markets products for patients with psychiatric disorders. It offers NeuroStar Advanced Therapy System, a non-invasive and non-systemic office-based treatment for adult patients with major depressive disorder. The company's NeuroStar Advanced Therapy System uses transcranial magnetic stimulation to create a pulsed MRI-strength magnetic field, which induces electrical currents designed to stimulate specific areas of the brain associated with mood.

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Analyst Recommendations for Neuronetics (NASDAQ:STIM)

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